HaloSource Inc Trading Update (3831G)
November 20 2015 - 2:01AM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 3831G
HaloSource Inc
20 November 2015
20 November 2015
HaloSource, Inc.
("HaloSource" or the "Company")
Trading Update
HaloSource Inc. (HAL.LN, HALO.LN), the global clean water
technology solutions trading on London's AIM, today provides an
update on trading ahead of the year ending 31 December 2015.
As a result of some delays in key customer rollouts together
with some operational challenges as we increased manufacturing
capacity at our Drinking Water facility in China which has
temporarily affected our ability to fulfil customer orders, we
anticipate that Drinking Water revenues will be impacted negatively
during the second half of 2015. However, the Company is confident
that these production delays will in no way impact the marketplace
demand for its class-leading HaloPure(R) disinfection technology
for 2016 and beyond. Revenues versus 2014 for the Company's
Recreational Water and Environmental Water segments are stable but
total consolidated revenues for the year ending 31 December 2015
will be materially lower than market expectations and,
consequently, the net loss for the full year will be higher than
market expectations.
The Company remains confident in the business strategy and
growth opportunities as the water technology integrator and
solutions provider for global multinational corporations. In
particular, the benefits of various operational developments are
starting to take effect. These include new product launches by
partners such as Panasonic Corporation in India; the emergence in
2015 of another national partner in China using HaloPure(R)
bacteriostatic cartridges in combination with their reverse osmosis
systems; improvement in operational performance being realised by
the movement to an indirect sales model in its Recreational Water
business during 2015; and optimisation of our Environmental Water
production and sales coverage implemented in H2 2015.
Enquiries:
HaloSource
Martin Coles, Chief Executive Officer via Newgate below
James Thompson, Chief Financial Officer
Susan Brown, Director Corporate Communications
Liberum Capital (NOMAD and Joint Broker)
Richard Bootle +44 203 100 2222
Jill Li
Steve Pearce
Allenby Capital (Joint Broker)
Chris Crawford +44 203 328 5656
Kat Perez
Newgate (PR Adviser)
James Benjamin +44 20 7680 6550
Alex Shilov halosource@newgatecomms.com
About HaloSource
HaloSource, Inc. creates innovative solutions for water
purification that serve people, preserve the planet and protect our
most valuable resource. The Company works with scientists and
industry experts across the globe in search of new ways to improve
water quality and has been awarded more than 70 patents for its
ground breaking chemistries, which provide effective and
environmentally responsible solutions to the growing issue of water
stress.
Founded in Seattle, Washington, HaloSource has grown to become
an influential leader in three market segments: drinking water,
recreational water, and environmental water treatment and
remediation. HaloSource is headquartered in the US with operations
in China and in India. Learn more about the Company's research and
development and future cutting edge technologies by visiting
www.halosource.com.
HaloKlear, HaloPure, and SeaKlear are either trademarks or
registered trademarks of HaloSource, Inc. All other trademarks,
brand names or product names belong to their respective
holders.
This document contains certain forward-looking statements
relating to the Company. The Company considers any statements that
are not historical facts as "forward-looking statements". They
relate to events and trends that are subject to risk and
uncertainty that may cause actual results and the financial
performance of the Company to differ materially from those
contained in any forward-looking statement. These statements are
made by management in good faith based on information available to
them and such statements should be treated with caution due to the
inherent uncertainties, including both economic and business risk
factors, underlying any such forward-looking information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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